Shell Mauritius Rises to Highest Since 1995
Shell Mauritius Ltd. (SHELL) closed at its highest level since July 1995 after reporting a 23 percent jump in 2010 profit.
The stock advanced 5.8 percent, or 9 rupees, to 164 rupees, its biggest rally since Oct. 18, at the 1:30 p.m close of trading in Port Louis.
Net income for the 12 months through December climbed to 324.9 million rupees from 264.3 million rupees a year earlier, the company said in a statement released after the close of trading March 25.
Vitol Group, in partnership with Helios Investment Partners, agreed to buy the majority of Royal Dutch Shell’s shareholding in most of their downstream businesses in Africa for about $1 billion, Vitol said on Feb. 19.
“The divestment includes the potential sale of the 75 percent of the share capital of Shell Mauritius held by Shell Overseas Holdings Ltd.,” the company said in a statement on March 25, without indicating the date of completion of the transaction.
